28 Oct 2015 07:30
28 October 2015
Etalon Group Launches Sales for the Second Residential Building of the Landyshi Project
Etalon Group Limited ("Etalon Group" or "the Company"), one of Russia's largest and longest-established development and construction companies, announces that it has launched sales for the second residential building of its Landyshi project in St Petersburg. The building will contain 697 flats and commercial premises, with a total NSA of 32.5 ths sqm.
Sales for the first residential building of the Landyshi project were launched at the end of July 2015, and it already accounted for 16% of 3Q sales. In just two months 51% of the premises launched had already been sold.
Landyshi will consist of two residential buildings of up to 16 storeys situated in the Kalinisky district.
It is situated within walking distance of Lesnaya metro station and four kilometres from central St. Petersburg. The total planned NSA of the project is 91 ths sqm, which includes 1,518 flats and 492 parking places. Etalon Group expects to complete the project in 2018.
This and other recent announcements are available on the Etalon Group website: http://www.etalongroup.com/investors/news/
Etalon Group IR Team
T: +44 20 8123 1328
E: info@etalongroup.com
EM
Sam VanDerlip
T: +44 7554 993 032
T: +7 499 918 3134
E: vanderlip@em-comms.com
About Etalon Group
Founded in 1987 by Viacheslav Zarenkov, Etalon Group has become one of Russia's largest development and construction corporations. The Company focuses on middle class residential real estate in the Moscow and St. Petersburg metropolitan areas, where it operates through Etalon Invest and LenSpetsSMU subsidiaries. With a 27-year history, Etalon Group has one of the longest and most successful track records in the Russian real estate industry.
Since its inception, Etalon Group has commissioned 4.5 million sqm. Etalon Group's CAGR for deliveries in 2010-2014 was 29%.
Etalon Group's strong reputation among consumers supports its pre-sales business model, which helps the Company to minimise external financing needs for on-going projects while maintaining a secure liquidity position: net debt as of 31 December 2014 was RUB 636 million.
The Company is vertically integrated, which helps it to control costs, quality and timing, as well as to demonstrate best-in-class profitability. Etalon Group employs over 5,000 people, and its nationwide sales and marketing network covers 36 Russian cities.
As of 31 December 2014, Etalon Group's portfolio comprised 29 projects, with a total of 3.11 million sqm of unsold net sellable area. Jones Lang LaSalle valued this portfolio at RUB 104,286 million, a 17% increase in the market value from YE 2013.
For the year ended 31 December 2014, Etalon Group's new contract sales totalled 457 ths sqm, or RUB 39,961 million. Deliveries in 2014 totalled 580 ths sqm.
The Company recorded revenue of RUB 51.5 billion and EBITDA of RUB 10.6 billion, with an EBITDA margin of 21% for the year ended 31 December 2014.
Etalon Group Limited's GDRs have been traded on the Main Market of the London Stock Exchange since 20 April 2011.